According to Forbes, Republican Presidential nominee, Donald Trump falls off 35 Spots on Forbes as one of the wealthiest billionaire this year.
Forbes released its analysis of the Republican presidential nominee's fortune last week, but released its annual ranking last Tuesday. Trump was listed in the No.156 slot with an estimated fortune of $3.7 billion, $800 million decline from last year according to Forbes.
Forbes blamed the decline in Trump's wealth on cooling property prices and new information about the nominee's holdings. Forbes released its analysis of Trump's current fortune before the New York Times published Trump's 1995 tax returns this weekend, showing a $916 million loss used to offset taxes for as many as 18 years.
As per record, in 2015, Trump was estimated to be worth $4.5 billion. He first appeared on the Forbes list alongside with his father with a shred value of $200 million in 1982.
Forbes list account for this year has a combination of $2.5 trillion in wealth, therefore, $1.3 trillion belongs to billionaires from ages 60 to 79 years old which includes 70-year old Donald Trump.
Meanwhille, hedge fund manager Ken Griffin retained his title as Illinois' richest man, with a net worth of $7.5 billion, a $500 million increase over last year. Griffin moved up to 12 slots to rank 57th on the list.
Overall, the rich got richer this year with the Forbes 400 representing a record-breaking combined net worth of $2.4 trillion.
The top spots on the Forbes 400 list belongs to Microsoft's Bill Gates, Amazon's Jeff Bezos, Warren Buffet, Mark Zuckerberg and Oracle's Larry Ellison. Those are the top five followed by Michael Bloomberg, who gave speech at the Democratic National Convention criticizing Trump's record business.
Forbes also pointed out that 42, or 10 percent of the members of this year's list are immigrants and 14 of those immigrants are billionaire ranked higher that Trump.
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